CATTARAUGUS FREE LIBRARY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

SUSAN GILMAN

Phone

7162579500

Tax Period

2024-01-01 to 2024-12-31

CATTARAUGUS FREE LIBRARY, founded in 1952, is a small nonprofit that reported $125K in total revenue in fiscal year 2024. The organization ran a surplus of $46K, a strong 37% operating margin.

Mission

TO PROVIDE FREE LIBRARY SERVICES TO THE PUBLIC

Program Service Accomplishments

Program 1

Expenses: $73,200 Revenue: $1,463

PROVIDING EDUCATIONAL, CULTURAL AND RECREATIONAL MATERIALS TO THE COMMUNITY IN THE FORM OF PERIODICALS, VIDEOS, BOOKS, AND AUDIO FOR ALL AGES

Program 2

Expenses: $480 Revenue: $0

PROVIDING FREE INTERNET AND COMPUTER ACCESS TO THE COMMUNITY

Program 3

Expenses: $4,084 Revenue: $0

PROVIDING ENRICHING AND EDUCATIONAL PROGRAMS FOR THE COMMUNITY INCLUDING STORYTIMES, GAMES, CLUBS AND ARTISTIC CLASSES

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $118,026

Program Service Revenue $1,463

Investment Income $5,301

Other Revenue $0

TOTAL REVENUE $124,790

Expense Breakdown

Grants Paid $0

Salaries & Benefits $49,279

Fundraising Expenses $0

Program Expenses $77,764

Other Expenses $29,095

TOTAL EXPENSES $78,374

Year-over-Year Comparison

	2024	2023	Change
Revenue	$124,790	$130,740	0.0%
Expenses	$78,374	$74,682	+0.0%
Net Income	$46,416	$56,058	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD ERHART	PRESIDENT	6.00	Officer	$0	$0	$0
HEATHER GOGEL	VICE PRESIDENT	2.00	Officer	$0	$0	$0
SUSAN GILMAN	TREASURER	5.00	Officer	$0	$0	$0
SANDY BLOOD	SECRETARY	15.00	Officer	$0	$0	$0
ALLISON GIROD	TRUSTEE	1.00	Director	$0	$0	$0
GRETCHEN WALKER	TRUSTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$124,790	$78,374	$603,418	$46,416
2023	$130,740	$74,682	$557,002	$56,058
2022	$110,790	$75,631	$500,944	$35,159